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$299,000

Beds
7
Baths
3.0
sq ft
3,788

314 Washington St, Monroe, MI 48161

314 Washington St

Monroe, MI 48161

  • 44 days on market
Prime investment opportunity! TWINPLEX... Live in one unit and rent the other or rent them both! This multifamily property (easily opened back to a single family home) offers excellent income potential in a desirable, centrally located neighborhood. Each unit, (north side unit is 3 bedroom 1 1/2 baths south side unit 4 bedroom 1 1/2 baths) provides spacious layouts with appealing features, ideal for attracting long-term tenants. Just minutes from Monroe's downtown area, residents will enjoy easy access to shops, dining, schools, and parks. With strong rental demand in the area proximity to major highways for commuters, this property is a great addition to any portfolio. Don't miss out on this solid, income-generating asset in a thriving community!

Details

Property type

Single Family Residence

Est. home value

$207,345

Lot size

0.34 acres

Price per sq ft

$79

Year built

1883

Annual property taxes

$5,378

Price History

11/08/2024
Realcomp

Realcomp #57050160587

Listed
$299,000
+160%
03/25/2014
Realcomp

Realcomp #57020091987

Sold
$115,000

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

School district: 

Monroe

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$131,725
Asking price
$299,000
Closing costs (~8% of asking)
-$23,920
Est. remaining loan balance
-$143,355
Cash to seller
$131,725

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

First Merchants Bank

Loan start date

November 2023

Original loan amount

$144,900

Est. remaining balance

$143,355

Interest rate

7.18%

Loan type

New Conventional, 30 year

Seller

David Westendorf and Tamra Westendorf

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 12/23/2024 at 4:25 AM

Listing updated: 11/21/2024 at 4:20 PM

Listed by: Shelly Conner, Century 21 Allstar Real Estate Team, Inc in Monroe Phone #: (734) 241-2700

MLS: Realcomp #57050160587

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